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Given the following Quantity Discount Schedule Discount Number Discount quantity Discount % Discount cost ($) 1 0 to 199 0 55 2 200 to 499

Given the following Quantity Discount Schedule

Discount Number

Discount quantity

Discount %

Discount cost ($)

1

0 to 199

0

55

2

200 to 499

3

To be completed

3

500 to 999

4%

To be completed

4

1000 or more

4.5%

To be completed

If the normal cost per unit is $ 55, the ordering cost per order is $82; the annual demand is 4000 units, and the holding cost is 55% of the cost per unit. What order quantity will minimize the total inventory cost? Please show all work. Please show you calculations manually.

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